International Monetary Fund (IMF)

Posted: 23 May 2002

The IMF was founded in 1944 at an inter-governmental conference held in Bretton Woods, New Hampshire, USA, in order to promote economic stability after the Second World War. It has 183 members (as at April 2002), and is managed by a Board of Governors which meets once each year at the Annual Meeting.

It has three main functions: 'surveillance', or monitoring of its members' economic policies; financial assistance, through which credits and loans are extended to member countries; and technical assistance, in areas such as monetary policy, data collection, or training.